CCEP vs KO: Correlation
Measured on weekly returns over the past three years, Coca-Cola Europacific Partners plc (CCEP) and Coca-Cola Company (The) (KO) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCEP and KO?
Across a 3-year window, the weekly returns of CCEP and KO correlate at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 157.8 %².
Few assets follow CCEP as closely as KO, which ranks #2 of 17 tracked partners. Over the last 12 months KO came out ahead by 8.6 percentage points (+24.5% against +33.1%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CCEP vs KO: side by side
| CCEP (Coca-Cola Europacific Partners plc) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | +24.5% | +33.1% |
| 5-year return | +115.3% | +83.8% |
| Volatility (ann.) | 19.3% | 15.4% |
| Beta vs S&P 500 | 0.39 | 0.11 |
| Max drawdown (3Y) | -18.2% | -15.5% |
| Market cap | $47.4B | $383.2B |
| P/E (trailing) | 21.0 | 27.0 |
| Dividend yield | 1.90% | 2.31% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CCEP | KO |
|---|---|---|
| 2022 | +2.3% | +10.6% |
| 2023 | +24.5% | -4.4% |
| 2024 | +18.4% | +8.9% |
| 2025 | +21.2% | +15.6% |
| 2026 | +19.6% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCEP and KO good diversifiers for each other?
Only partially. A correlation of 0.53 means CCEP and KO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CCEP and KO?
The CCEP/KO correlation stands at 0.53 on a 3-year window (1 year: 0.61, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is KO a good diversifier for CCEP?
Only partially. A correlation of 0.53 means CCEP and KO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccep-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccep-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCEP correlations · KO correlations
